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Robert Sampson owns a townhouse value at $185,000 and still has an unpaid mortgage of $150,000. In addition to his mortgage, he has the following
Robert Sampson owns a townhouse value at $185,000 and still has an unpaid mortgage of $150,000. In addition to his mortgage, he has the following liabilities: isa MasterCar d Discover eard Education loan Per sonal bank loan Auto loan Tot al 755 380 3, 900 650 6. 000 Robert's net worth (not including his home) is about $39,000. This equity is in mutual funds, an automobile, a coin collection, furniture and other personal property a. What is Robert's debt-to-equity ratio? (Round your answer to 2 decimal places) Answer is complete but not entirely correct [Debito-equity ratio1 4 160 b. Has he reached the upper limit of debt obligations? Yes No
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